Fidelity will reportedly launch its crypto custody service in March

January 30, 2019

Fidelity Investments may officially launch its cryptocurrency custody service already in March 2018, as reported by Bloomberg on January 29.

Fidelity Investments’ custody storage arm Fidelity Digital Asset Services (FDAS) is already partially operational. According to the source familiar with the matter, some virtual assets are already under management, but the official launch of the custody service is scheduled for March.

“We are currently serving a select set of eligible clients as we continue to build our initial solutions. Over the next several months, we will throughly engage with and prioritize prospective clients based on needs, jurisdiction and other factors,” – the official statement on the matter reads.

Bitcoin storage is to be launched first. This will be followed by opening of ether custody. Exact timeframe for the launch of brokering trades between FDAS clients and market makers still remain unset, however.

October 2018 saw one of the world’s largest holding companies Fidelity Investments announcing its plans for launching a crypto assets trading platform.

It is also worth noting that Fidelity Charitable foundation received $70 million worth of BTC donations in 2018.